KUALA LUMPUR: LPI Capital Bhd
, which reported a 23% increase in net profit for the second quarter ended June 30 (2Q24), has declared a first interim dividend of 30.0 sen per share.
“This first interim dividend, which amounts to RM119.5mil, is part of the group’s continuing efforts to reward the shareholders for their continued support. This first interim dividend payment represents 66.6% of the group’s net profit attributable to shareholders,” LPI said in a statement.
The insurer posted a net profit of RM78mil, or earnings per share of 19.58 sen in 2Q24 compared with RM63.4mil, or 15.92 sen in the year-ago quarter.
Revenue for the quarter was higher at RM469.4mil against RM462.4mil previously.
The improved revenue was largely contributed by its general insurance segment, which increased to RM469mil as compared to RM462.1mil in 2Q23, due to the higher insurance revenue coupled with improved investment income.
LPI said the investment holding segment recorded marginally higher revenue of RM400,000 as compared to RM300,000, contributed by higher interest income received.
In the first half (1H24), LPI posted a net profit of RM179.3mil, up 30.6% from RM137.2mil while revenue increased marginally by 1.45% to RM939.2mil from RM925.7mil last year.
Net return on equity of the LPI Group increased to 8.0% from 6.5%, while earnings per share was reported higher at 45.01 sen from 34.45 sen in 1H23.
“The LPI Group will leverage its established agency network, insurance brokering partners and extensive global partnerships to tap into this expanding insurance business.
“As we confront the challenges of this dynamic market, the group remains committed to fostering excellent customer services and will continue to promote wider adoption of digital solutions to enhance efficiency and improve customer experience,” LPI said.
